State of New York

The market was quiet on Friday ahead of a $7.5 billion new issue calendar as more than $50 billion in August redemptions frees up cash to buy bonds.

The State Bond Commission approved a $10 million study on reviving tolls against a backdrop of revenue strain and regional dynamics.

Puerto Rico issues rallied on a restructuring agreement for the power company, while municipal bond buyers saw some new supply head their way.

For the first time this year, the municipal bond market generated more volume than it did in the same month of 2017, as July issuance edged 1.3% higher.

Puerto Rico issues rallied after reports the island’s electric company struck a debt restructuring agreement with its bondholders.

Despite recent softness, the supply demand imbalance is uplifting the market, according to a new report.

Municipal bonds were mixed ahead of this week’s $4.4 billion calendar.

Weekly municipal bond volume is estimated at $4.4 billion for the upcoming week.

Municipal bond volume will dip to under $5 billion next week, according to estimates released on Friday.

Vicki Fuller is retiring after six years as the state pension fund’s chief investment officer.

New revenue sources for operating and capital budgets are necessary for the transit authority to cover a widening outyear gap, CFO Robert Foran said.

Sporadic trading and price firmness drove the municipal market on Thursday.

Price stability was outweighing trading activity and volume on Thursday morning in the municipal market.

Municipal bond buyers were singing “I love New York” on Wednesday as they grabbed bonds from two Empire State issuers.

Two big New York issuers came to market on Wednesday as municipal bonds were little changed in secondary action.

California’s Infrastructure bank hit the municipal market with a big note offering on Monday, while a New York City Transitional Finance Authority deal was offered to retail buyers.

Redemption demand should continue to surface this week even with the arrival of new issuance, municipal sources said.

New York issues again dominate as the bond calendar dips to $5.3 billion in the new week.

New issues were well spoken for on Thursday as hungry investors with available cash participated in the largest deals of the week.

The loss of the SALT deduction cost New Yorkers an additional $14.3 billion in 2018, state Attorney General Barbara Underwood told the Citizens Budget Commission.